Vacation HW • During the Christmas Break please complete the following assignments. • They will be worth a large grade (you deserve a lot of points for doing the work over break). • This information will be on your midterm. • There are 6 tasks, all labeled 1-6…make sure you find and do them all!
On paper to hand in: • 1. Should people be able to acquire as much wealth as they want in life? Or should someone regulate it? Why?
• Monopoly: total or almost total control of the market by one business. • 2. Draw a cartoon that resembles this.
John D. Rockefeller: Oil Tycoon • • • 1. 2. • • • •
Rockefeller was trying to take over an industry (a monopoly), the oil business However, he would need to eliminate competition…. To do so, His company Standard Oil, would lower oil prices to attract competitor’s customers Raise the price of oil once competitors were driven out of business By 1890, Standard Oil controlled over 90% of American oil Reaped HUGE profits by paying his employees very low wages Critics began to call him a “Robber Baron” Result: Rockefeller gave away over 500 million to Universities and hospitals over his lifetime
Andrew Carnegie: King of Steel • Born a poor man, one of 1 to st
• • • • 1. 2. 3. • •
make his own fortune A smart man, he realized the potential of the Bessemer Process So…he sunk his savings into a steel plant in Penn. Within a year, his steel was the most sought after in the country To stay on top, Carnegie: Kept tabs on his competitors Rewarded Talented Employees Fired Incompetent Workers Carnegie’s Story: Ultimate “Rags to Riches” Story By the way: If you have time, try to watch the show “The Men Who Built America” on History Channelit’s excellent and all about these people!
What kind of things do you like to see on a report card? • • • •
Time for you to be the teacher now… Based on what you know about each businessman…if you were there teacher, how would you grade the way they’ve run their businesses? Teacher’s Comments: Why did you give them that grade? Explain you reasoning, 3. Make a chart like the one below.
Business Entrepreneur Andrew Carnegie John D. Rockefeller
Letter Grade
Teacher Comments
• Read in your textbook p. 594-597. • 4. On pg 597 answer Question 3 (Main Ideas) a, b and c. • Read in your textbook p. 600-603. • 5. On pg 603 answer Question 1 (Terms and Names) and Question 3 (Main Ideas) a and b.
6. MEAT Paragraph • I will accept this HANDWRITTEN with the same papers you are handing in for tasks 1-5. • Choose ONE of the following questions to answer in a MEAT paragraph. – Did the Industrial Revolution add more positives or negatives to people’s daily life? – Were people like Carnegie and Rockefeller a blessing or a curse for society?